2021 has been a busy year for residential property buyers. According to our Singapore Property Market Outlook 2022, homes sold like hotcakes in spite of the pandemic.
For six consecutive quarters, property prices and transactions increased for all property types. Even during the Lunar Seventh Month, where transaction volumes are traditionally slow, the market continued to boom.
Due to new COVID-19 variants keeping borders closed, it was found that locals largely fuelled the demand for property in 2021. With over 25,000 HDB flats fulfilling their Minimum Occupation Period this year, we saw a large group of HDB upgraders who went for larger HDB resale flats and entry-level condos.
We already know which are the top 10 bestselling projects for Q3 2021, Q2 2021, and Q1 2021. But which made the top 10 list for the year? Without further ado, here are the 10 most popular new launches that stole the show this year.
10 Most Popular Projects in 2021
Based on caveats lodged on URA, accurate as of 29 November 2021.
1. Normanton Park: Attractive City Fringe Location
Normanton Park has been on the bestseller list for much of 2021, having sold 600 units on its launch day. The 99-year leasehold development consists of 1,840 residential units, including 22 strata terrace houses. Eight commercial units, including seven shops and one restaurant, enable residents to dine and shop for groceries from the convenience of home.
Normanton Park’s proximity to the Ayer Rajah Expressway connects it swiftly to the city, making it a hit with affluent buyers who travel by car. The nearest MRT station, Kent Ridge, is located about 20 minutes’ walk away.
Browse all Normanton Park units for sale on PropertyGuru.
2. Parc Central Residences: Affordable EC in the East
Park Central Residences has proven popular amongst those who wish to enjoy the lifestyle and leisure options in the east of Singapore. 414 units were sold during the Executive Condominium (EC)’s launch.
The development is located about 25 minutes’ walk from Tampines West MRT station and is also close to Bedok Reservoir, Temasek Polytechnic and United World College’s East Campus.
The project, which consists of 700 units, has likely been popular with families who wish to enjoy a more spacious layout at an affordable price.
Browse all Parc Central Residences units for sale on PropertyGuru.
3. Canninghill Piers: A Stone’s Throw from the CBD
Located in the heart of the city, Canninghill Piers is the best-selling Core Central Region (CCR) launch of 2021.
The development enjoys an unmatched location, with Fort Canning MRT station being just 6 minutes’ walk away. It is a stone’s throw from Fort Canning Park, Clarke Quay and Singapore Management University. Canninghill Piers is also ideal for those who work in the CBD, with Raffles Place being less than 20 minutes’ walk away.
The 99-year leasehold property will be an integrated development comprising 700 residential units and includes amenities like an infinity pool, bouldering wall and sky deck.
Browse all Canninghill Piers units for sale on PropertyGuru.
4. Treasures at Tampines: Affordable Entry-level Condo
Thanks to its affordable prices as well as its large size of 2,203 units, the 99-year leasehold Treasures at Tampines has proved popular amongst budget-conscious buyers looking for an affordable entry-level condo, with 272 units being sold at the launch.
Other than the usual condo facilities, Treasures at Tampines has some unique offerings, including a co-working space, dance studio, baking studios, and climbing wall.
Treasures at Tampines is located about 15 minutes’ walk from Simei and Tampines West MRT stations, giving residents access to the East West and Downtown lines respectively.
Browse all Treasures for Tampines units for sale on PropertyGuru.
5. Pasir Ris 8: Next Door to the MRT
Situated just five minutes’ walk from Pasir Ris MRT station, 99-year leasehold development Pasir Ris 8 offers the chance to live in a choice location in the east of Singapore. 415 units, or 85% of the total units, were sold during the launch weekend.
The integrated development, which consists of 487 units, will be connected to White Sands Shopping Mall and located on the same site as amenities such as the bus interchange and polyclinic.
Browse all Pasir Ris 8 units for sale on PropertyGuru.
6. Parc Greenwich: Designed with Wellness Amenities
Parc Greenwich is an EC that will be located in the Yio Chu Kang area, about 13 minutes’ walk to Fernvale LRT. 65% of its units, or 322 out of 496, were sold during the launch weekend. It has proven popular with budget-conscious buyers.
The condo’s design includes a three-storey Wellness Club equipped with a multi-purpose hall, function space and dance studio. Units are fitted out with a smart home system to which new appliances can be added.
Browse all Parc Greenwich units for sale on PropertyGuru.
7. Midtown Modern: In the Heart of Bugis
Midtown Modern’s excellent location in the Bugis area makes it a prime choice for affluent buyers willing to pay for convenience.
340 or over 60% of the units in the 558-unit, 99-year leasehold development were sold on the launch weekend, including about 90% of the one- and two-bedroom units.
The development is located just a minute’s walk from Bugis MRT station and Bugis Junction, and a stone’s throw from amenities and lifestyle hotspots like Bugis+, Bras Basah Complex and the National Library.
Browse all Midtown Modern units for sale on PropertyGuru.
8. Irwell Hill Residences: Prime Location Close to Orchard Road
Location is a priority for the affluent buyers who have snapped up units at the 99-year old Irwell Hill Residences, with 278 units out of 540 being sold at the launch.
Located in the River Valley area 15 minutes’ walk from Somerset MRT station and 7 minutes from the upcoming Great World MRT station, the development is within easy walking distance of the Orchard Road shopping belt and enjoys quick access to the CBD via River Valley Road.
Browse all Irwell Hill Residences units for sale on PropertyGuru.
9. Midwood: Living Amidst Green Spaces
The 99-year leasehold Midwood, located in the Hillview area, is close to popular eateries and lifestyle amenities in Upper Bukit Timah and Beauty World. The property will be home to some unique amenities, including a childcare centre and a 50-metre infinity pool.
Midtown is located about 7 minutes’ walk from Hillview MRT and shopping malls HillV2 and The Rail Mall. It is also close to green spaces such as Dairy Farm Nature Park and Bukit Timah Nature Reserve, making it ideal for outdoorsy types.
Browse all Midwood units for sale on PropertyGuru.
10. The Reef at King’s Dock: Luxury Living on the Waterfront
Located in the Harbourfront area about 7 minutes’ walk from Harbourfront MRT, 99-year leasehold development The Reef at King’s Dock enjoys unblocked waterfront views of Keppel Bay.
It is within walking distance of an excellent range of amenities, including Harbourfront Centre and VivoCity Shopping Mall. It is also next door to the cable car station, offering easy access to Sentosa.
280 out of 300 units at the premium development, which consists of 1- to 3- bedroom villas, were sold during its launch weekend, indicating a strong appetite for premium luxury property with a view.
Browse all Reef at King’s Dock units for sale on PropertyGuru.
Which Condo Should You Buy?
Traditionally, budget and the desire for a more central location are key deciding factors when selecting a condo, though the work from home arrangements due to the pandemic may have altered that somewhat.
The high prices of premium properties like Midtown Modern and The Reef at King’s Dock are justified by luxurious architecture and a central location. On the other hand, more affordable properties like Treasure at Tampines and Parc Greenwich are targeted at HDB upgraders or those who want to buy a larger property.
For those buyers who have some wiggle room in their budgets but are still concerned about value for money, Pasir Ris 8 and Midwood offer a happy medium. They are located very close to major MRT stations and shopping malls in attractive neighbourhoods with a good selection of lifestyle options.
In Q4 2021, there were fewer launches as the government’s reduction of Government Land Sales (GLS) sites made itself felt. In the coming year, we’re expecting only 11 new condo launches.
Home loan interests are still relatively low at the moment, but are expected to gradually rise in 2022, in tandem with interest rate hikes in the US.
If you need advice about financing a home purchase, get in touch with a PropertyGuru home loan advisor. They’ll be happy to help and best of all, it’s free!
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This article was written by Joanne Poh. A former real estate lawyer, she writes about property and personal finance and spends her free time compulsively learning languages and roller skating in carparks.